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brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecedented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for cyprus? >> what's ahead is a very big question. the world was watching the tiny island nation again today, in a show of hands-on opposition, party members voted no on a tax and 10% of bank deposits, a condition set by eurozone officials to secure 10 billion euro bailout. many called it extortion. ruling party members abstained saying beyond saying no they need to find another plan.
economy. its banks are not highly connected with the rest of the international financial system. there is no risk of contagion here. >> adam, actually, of all the ideas you laid out, which do you think is the least bad of all those solutions? is it going ahead and letting the banks fail? >> that would be my preferred route. failure implies that the banks can't pay their depositors. they are restructuring. they will be very orderly. basically, the banks would be closed for two days. what would come out is when they reopen, the depositors would be the large depositors because the small depositors would be fully protected. the large depositors would be the owners of a bank and they would have deposits of somewhere between 50 1k3 60 or 70% of their money and the rest of the shares in the new bank. the banks would be solvent. the banks could be highly capitalized and they would then have access to the ecb for refinancing to provide any liquidity. >> and the fallout from that would be that the russians -- >> and basically -- >> the fallout for that is that the russians are the ones wh
affect the u.s. economy. presumably including cyprus. as well as the improving u.s. job market, and strong housing sector. and as we wait for fed officials to wrap up their meeting tomorrow, it's expected they will leave interest rates unchanged. joining us to talk more about the fed, randall krosner, former fed governor and now professor of economics at the university of chicago. i've not had the benefit of being in those meetings. you have, and i'm curious to know, do you think cyprus came up? if so, how? and how would the fed governors and members of the fomc handicap its possible effects on the u.s. economy? >> it certainly would have come up, i think, if some analogies with iceland from a number of years ago. even a smaller country, only 250,000 people, not a million people, but it was something that we focused on. we worried about and tried to think of what the implications are. here it's clear the europeans have made i think a terrible mistake in making this proposal. that potentially could undermine confidence, and that could have knock-on effects not only for the whole
part of the economy that's being left at a tivitate now, and where's the exit strategy? >> and i think revenue could be an issue. oracle is out with its third quarter. revenue came at 8.6 billion versus 9.3 billion, an estimate. jon fortt has all the numbers right now. >> let's drill down to some numbers, maria. exactly where oracle missed, because this is a miss. on new license and cloud revenue, the street was looking for 2.57 billion. they came in at $2.3. on hardware product revenue, the street wanted somewhere around $800 million in research. they came in at $671 million. that's well below their guided range on that. and on non-gap operating margin, they came in at 47%, which is right about where the street was looking. they don't give guidance until the call, but this is really important, because they're guiding into their biggest quarter, their fiscal q4. also, larry ellison has said the hardware business was going to have a transition quarter in q3. we should expect to start seeing it growing in q4, given this hardware number, it's going to be especially important for them to b
to share with you some views of the economy from our 54 respo respondents. firming housing prices are a game changer. there is something much more self-feeding about recovery this year. could be a turning point. the objepposite from john rober. we believe a recession/economic slowdown is a possibility in the latter half of 2014 or early in 2015. some of the excesses that could cause a recession are beginning to build in the economy. another piece of data, the biggest problems facing our economy, taxes/regulation, 29%. i would say that's a victory given that europe is not in there for fear of recession is not in there. too much deficit reduction, 16%. slow job growth, 12%. too little deficit reduction, 10%. guys, these are more normal problems, i would say, than we've had in the past. the european financial crisis, u.s. financial crisis. sue, i would take a victory, yes, there are problems out there. >> i totally agree with you. it's the first time in a long time we haven't seen europe on a list like that. >> thank you, steve. >> absolutely. thanks, steve. >> sure. >> the markets h
safe financial move it could hurt young adults and economy as a whole. brenda buttner, anchor of "bulls and bears." i guess it's a story here is that young people are avoiding debt and not getting sort of themselves mixed up in some of these predatory practices that young people have been the target in the past. so had a part of the story is good, right? >> absolutely. during the great recession everybody stopped using their credit cards but particularly those under 35. especially undergraduates as you brought up. in a sense that is good, whenever you hear from a personal financial expert, get some extra money, pay off your credit card debt, but having no credit and misusing credit are two different things and could have potentially difficult implications for our economy and for these young adults. >> rick: i remember my mother telling me, go and get one credit card, buy something you need but get your books and put it on the card and then pay it off in full. that is the way to start establishing a good credit? >> who is your mom. eileen -- that is good advice to your son. that is exact
revenues. it would cut waste, add jobs and spur economic growth of the economy. it would reduce the deficit by an additional $1.8 trillion without jeopardizing the recovery or harming the middle class. it includes $1.2 trillion in new revenue obtained not by tax increases but by closing loopholes and eliminating wasteful spending that benefits the wealthiest americans and the largest corporations. it eliminates $4 billion in annual tax breaks to the oil and gas industry, an industry that is making profits. they don't need a tax break. in fact, they're making enormous profits. so, why does the ryan budget give them a government subsidy? the democratic plan invests in infrastructure, education, job training and innovation. it is designed first and foremost to help create jobs and strengthen the economy. the house democratic budget also makes critical investments in our future. $200 billion is invested in infrastructure, education, job training and innovation. helping to create jobs and strengthen the economy. these investments include $80 billion for an education jobs initiative, $50 billion
and the austerity he is putting in place has caused the economy to be really slow. >> a lot of tax increases over there in europe. we look at this austerity bit. i want to talk about this for a second. >> i want to get back to the budget then. >> talk about what is happening in washington. you know, economics discussed on tv or on the internet or on twitter, it's so depressing, because people really don't know what they are talking about and they just sort of boil it down and there is this belief through the years, that tax cuts are not a tool used. of course, tax cuts are a tool used and tax increases something that traditional are against in bad times. we hear about austerity across great britain and we never hear about the tax increases. when you talk about the fact they cut and slash spending at the same time they hike taxes, it really was a formula made to fail. >> spending cuts and tax increases both take money out of the economy and slow the economy and, yes, they create this idea of austerity. but, look. it's a balancing problem. on the one hand you need to deal with it budgets and defici
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
a gloomy new report on the state of retirement savings. >> the recent headlines about the economy as we've talked about have been pretty good but the lingering effect of the great recession is that a lot of americans have had to dip into their savings to get by. and of course that could be a problem in the years to come for many americans. they're supposed to be the golden years. but a new report says retirement like this is way out of reach for most americans who just aren't socking away enough. even with markets near record highs, the confidence workers have in their retirement is low. the employee benefit research institute found that 49% of americans aren't sure they'll be able to retire comfortably and they're not doing much about it. >> it's one of the scariest things is that it is not just that people don't have a lot of retirement savings. it's they don't know what they need. they don't know what they don't have. so, you know, what you would like to see is more people really sitting down with an adviser doing some hard math. instead, people seem to be crossing their fingers and
of the country. high taxation and high debt are holding back the economy and the g.o.p. believes mr. obama is creating a nation at war with itself. the affluent vs. the nonaffluent. over the weekend senator ted cruze of texas, a conservative, delivered a very emotional speech at cpac. >> my father came from cuba. he had been in prison. he had been tortured in cuba. and he came to texas with nothing, with 100 in his underwear. didn't speak a word of english. washed dishes making 50 cents an hour. in someone had came up to that 18-year-old kid avenue as he was washing dishes and suggested to him that 55 years hence his son would be sworn into office as a united states senator representing the great state of texas. [ applause ] that would have been unimaginable. >> now mr. cruze says his dad made it on his own without government assistance. he worked hard and provide for his family and now his son has achieved the american dream. that's the way this country is supposed to work. but president obama himself has a very compelling story to tell. his father abandoned him. he was raised primarily b
of energy conclude we can safely export natural gas, this is not even about a trade off between the economy and the environment. we can do these projects, prevents these projects will stop a lot of jobs from being created, it is not going to make a development in global emissions. it making no sense to me and the economy. neil: malia. >> i just quickly top say, i understand how we like to take things and combine themm but, i do not think that the only reason why keystone project is not happening is because, barack obama asked his agency this question, to get back to original topic, what i think is really important for us to look forward and you know neil, i don't think that anyone would disagree with you that jobs are important, the problem with laser beam focus you have a society and a lot of things that need to be focused on, laser beaming becomes narrowing, i don't think that is how we' our president or anyone in congress to just have like this one bullet silver bullet solution on what will save the u.s., that is not only thing that u.s. nee right now, we not only have a jobs problem. ne
if constant budget deficits are going to ruin the economy they're taking an awful long time about doing so. the real fact about the budget is that the deficit has to be sustainable. but basically the government is a lot more like a company than it is like a household. and a company has debt as part of its permanent capital structure and it can have that debt forever. if the company keeps grog, it can take on more debt. similarly if we run a budget deficit, so long as it is small enough relative to the amount of economy is growing over the long-term that can be sustainable. we have to shrink the budget deficit over time, but not all the way to zero. the democrats are closer to correct on this point where the republicans have been attacking them because their budget doesn't balance over ten years. the budget shouldn't balance over ten years. >> i think you hit a key point. it's all about growth. you can grow your way out of deficits. we saw it during the clinton administration. it's also about looking at how far we've come. if you actually look at what we've already done in terms of getting
go, the economy comes to lif norfolk southern. one line, infinite possibilities. david: five seconds away. s&p futures are closing let's head back to tim mulholland in the pits of the cme. what are you see, tim? >> we're closing near the highs. slow volume day. next week is the first week of the -- last weeks of the first quarter. so i think that we're looking at some regional fed manufacturing indexes, and end of the quarter. this market sits back a little, one step back, two steps forward. david: everyone wants to it is friday. everybody take a breath. tim, thanks very much. >> sure. shibani: shares of grocery conglomerate supervalu are soaring today. let's head back to the floor of the new york stock exchange and sandra smith with the latest. sandra? >> hey, david, hey, shibani. investors of supervalu the supermarket chain are breathing a fresh air as the stock is trading over 15 million shares. the basically the grocery store chain announced it closed a many could plex deal where cerberus capital management led group slimmed down the supermarket portfolio of this company. they sh
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
is in the economy. >> and the trickle up economics that is fueling the bay area recovery. how small businesses are building the boom one job at a time. >>> with the smirk on his face and a t-shirt with the word, killer scrolled on it, an ohio teenager appeared in court to hear his sentence for killing three classmates last year. 18-year-old, t.j. lane turned to the victim's families if court, cursed and made an obscene gesture. sentenced him to life in prison. he was not eligible for the death penalty because he was a minor when he opened fire on students in his high school cafeteria. the mother of one of the students killed called lane a quote, pathetic excuse for a human being. >> another campus tragedy averted by an alert student. tonight we are hearing from the young man who saw his roommate with a gun and then called police. cbs reporter, marchly hall, on the law enforcement response. >> police entered the dorm room of 30-year-old james oliver under the blare of a fire alarm they say he activated to lure students out of their room. they found him next to his bed, dead because of a self-
. >>> so just where is the economy headed? according to federal reserve chief ben bernanke the economy is improving. however, interest rates will stay low now until unemployment falls below 6.5%. >>> more news from nike after the bell investors will look at nike's future orders. china trends. and gross margins for a read on consumer demand in china and here at home. >>> expectations are climbing for home sales. >>> cash-strapped cyprus banks are still closed and late night meetings broke up with no new plan b to fund the island's much need bailout. the european central bank gave cyprus until monday to work out a deal or be cut off from emergency funding. >>> closer to home, cvs is weighing in on its controversial policy to require employees to report their weight and body fat or face a health insurance premium increase. the company insists all data collected during health screenings is private. >>> fans of starbucks will be happy to know beginning in may they can also rack up rewards points with packaged coffee purchases at grocery and drugstores. >>> meanwhile, walmart is expanding it
. if the economy hobbles along and don't get me wrong, the markets are roaring, we've had a few days where it has slowed just a bit. but the average american, the pedestrian middle class family how well are they doing? how confident are they? and if the economy slows for them, the prospects for immigration reform, i don't believe are nearly as high, if you don't get what mark has been saying now for over two weeks. the sequencing done right on this cut spending cuts and tax reform. things sound great and they're moving along now. but joe, as we talked about earlier, you're going to have reticent democrats. and even key congressional races who are going to slow down a bit and saying, look, i want immigration and guns dealt with, what are we doing about the economy and the budget, the debt, and tax reform? >> and this is, richard haas, you can only push people so far, i mean, not the republicans' best friend. this weekend said democrats you're about to lose me. i pay 40% federal, 15%. well, i hear we have it cued up. let's go. this is bill maher this weekend. >> -- actually do pay the freight in th
with the casino's owner since it opened two years ago. >>> so just where is the economy headed? according to ben bernanke, the economy is improving, however, interest rates will stay low for now and until unemployment falls below 6.5%. >>> more economic clues today from nike after the bell investors will be looking at the global retailer's future orders. china trends and gross margins for a read on consumer demand in china and here at home. >>> expectations are climbing for this morning's february existing home sales numbers which are seen coming in higher than january. >>> and cash strapped cyprus, banks are still closed and late night meetings broke up with no new plan b to fund the island's much needed bailout. >>> closer to home, cvs is weighing in on the policy requiring employees to record their weight and body fat or face a health insurance premium. all data collected during health screenings is private. >>> fans of starbucks will be happy to know that beginning in may they can also rack up rewards points with packaged coffee purchases at grocery and drug stores. >>> meanwhile, walmart is
on iran still have not pushed their economy to unrest that would lead to collapse. >>> spring arrived earlier in tokyo. it's a sight for our winter weary eyes. cherry blossom blooming ten days ahead of schedule. the annual symbol of new beginnings and fresh starts arrived early this year thanks to a remarkably warm march. it's the earliest sighting since 2002. looks great. >>> and closer to home, a good time during a day of peace, paws and music. thousands of canines and their companions came out to the weekend woofstock fair in the florida keys. the event is held to promote dog adoptions and these pups put on their best showing, chasing, racing, jumping and splashing for the cameras. i might adopt one, too, after seeing these guys. >>> don't try this at home or anywhere else for that matter. you would think flying through the air in wing suits is dangerous enough by itself, but two daredevils took it to a new level. the pair well known for high risk jumps. the pair are well known for their high-risk jumps. that's scary, man. couldn't you be off by a couple feet and -- >> yeah, you do
they count on the events. >> it brings in a lot of money and helps the economy. >> what we want to do is make sure people know the event is happening this year. >>reporter: the new organizations say that the large festival will be scaled back. >> we're not going to have seven stages. what we're going to go is go back to the way it started. >>reporter: residents gathered this evening to help organize and raise money. >>> proposed ban on assault weapons has little chance of surviving. it will not be part of the initial gun control measure that will be debated this month. the senator was told today that the band will be offered as an amendment. it is expected to be met with solid opposition from republicans. >>> a new hand book has a death to the laws of war to cyber space. the manual was created at the request of a nato sink tanking to show how hospitals and neutral nations can be protected in the case of warfare. >>> apple today launch and update to its ios operating system. it fixes a flaw that allows unauthorized users to get around the password lock screen on iphones, ipads, and itouches. >
. >> we owe the country a balanced budget. it's a reasonable plan. grows the economy. balancing the budget is not just a sta stats tis particular call exercise. creates nor jobs. helps people keep more of their hard earned money when the other side is offering even more spending increases and tax increases. more borrowing. we are worlds apart. >> democratic proposals do not balance the budget. the fbi is investigating how on earth a man was able to pose as a pilot and gain access airways flight in philadelphia. police say the man had on an air france uniform and also an i.d. then he ended up in the jump seat right behind the airlines captain. he was caught when he failed to show his real credentials. the airline says that no passengers were ever in danger. >> that was a bizarre story. >> um-huh. >> the lie breafer congress has added 25 new songs, including this 1960's hit. ♪ come on, baby, ♪ let's do the twist. ♪ come on, baby ♪ let's do the twist. >> they said it became the excitement and energy. dick clark chubby checkers to record a new version of the song. it is more than two d
and other nations, think it is too soon to suggest that. it is the banking system the size of this economy, you talk about the fact that large percentage of the deposit are outside attempting to trick the nation and the bank in the unique way. i sure hope they backpedal on insurance deposits, that would provide a little bit of stability and i hope they suggest this is not something we're looking to do broadly across the euro zone nations. melissa: do you think they will do that, or do you think the opposite, that other people follow suit? this is really unprecedented. they're basically skimming people's bank accounts. >> i agree with both of you, which is always a good thing to do. the fact is they will try to reassure people this is a one off thing. they have rung the spell. now people know especially larger depositors know if they're in italy or spain they could be hit by this. the one thing we have not mentioned is russia. love those large deposits are from russians. including those who had taken the money. the fact they're taking a haircut is not anything people want to cry tears over,
. as your life changes, fidelity is there for your personal economy, helping you readjust along the way, refocus as careers change and kids head off to college, and revisit your investments as retirement gets closer. wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. the people of bp made a commitment to the gulf., and every day since, we've worked hard to keep it. today, the beaches and gulf are open for everyone to enjoy. we've shared what we've learned, so we can all produce energy more safely. bp's also committed to america. we support nearly two-hundred-fifty thousand jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. watch this -- alakazam! ♪ [ male announcer ] staples has always made getting office supplies easy. ♪ another laptop? don't ask. disappear! abracadabra! alakazam! [ male announcer ] and now we're making it easier to get everything for your business. and for my greatest tri
the american academy of pediatrics. stay with us. (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. >>> welcome back to "starting point." no plea deal for major nidal hasan, charged with killing 13 people at the ft. hood military base. he was willing to plead guilty under certain conditions, but the court-martial judge rejected those. >>> the american academy of pediatrics is coming out in support of same-sex marriage. the academy announced its support in a ten-page report. it studied scientific literature from the past four years and found that children's well-being is affected much more by the strength of family relationships than by the parents' sexual orientation. >>> nbc says it is building a new studio in new york
and hard work. israelis have put this small country at the forefront of the global economy. israelis understand the value of education and have produced ten nobel lawye llauretes. israelis understand the power of invention and your universities educate engineers and inventors, and that spirit has led to economic growth and human progress. solar power and electric cars, and bandages and prosthetic limbs that save lives. stem cell research and new drugs that treat disease, cellphones and computer technology that changed the way people around the world live. if people want to see the future of the world economy they should look at tel-aviv home to hundreds of start-ups and research centers. [applause] >> israelis are so active and social media that every day seems to bring a different facebook campaign about where i should give this speech. [laughter] [applause] >> that innovation is just as important to the relationship between the united states and israel as our security cooperation. our first free trade agreement in the world was reached with israel nearly three decades ago. [applaus
stood by its plans to boost the economy. here are today's closing numbers. the dow was up 56 points. it briefly traded at an all-time high today. the nasdaq rose 25 points. and the s-and-p - was up 10 points. >> the senate has passed a huge spending bill to fund the government through the end of september. the bill would avoid a partial federal shutdown at the end of the month. a vote tomorrow in the house would send the measure to the president for his signature. it includes funding for the day-to-day operating budgets of every cabinet agency, and another 87- billion dollars for military operations in afghanistan and iraq. >> the unemployment rate for veterans dropped last year, according to a new labor report. but veterans still lag behind non-veterans in the job market. the jobless rate for veterans who served in the military since the 9-11 terror attacks dropped by two percent in 2012. >> rising gas prices are really taking a chunk out of people's monthly budgets. but now a bay area grocer is working with a local oil company -- to reduce prices at gas stations across northern ca
. is nbc ready to overhaul "the tonight show" again? >>> welcome back. the economy is good but not good enough. the federal reserve sees steady improvement but isn't sure the growth is for real. chairman ben bernanke says the fed will continue its stimulus program to keep long-term interest rates low, but he hinted the fed might cut back if it sees more improvement in the job market. >>> and one area where there is real improvement is the housing market. we're expecting good news this morning about existing home sales. there aren't many of them on the market apparently, and that's creating a sudden increase in demand for new homes taking builders quite by surprise. they're even having trouble finding construction workers. >>> gas prices this morning averaged $3.70. they've been holding there for about a month but many feel they're still too high especially considering the boom we're having in domestic oil production. the oil industry is blaming the federal ethanol requirement, but the ethanol industry says the additive costs less than gasoline, so that's nonsense. >>> the company that m
really matters to what is happening in europe. cyprus, 0.2% of the euro-zone economy. it's banking sector accounts for mostst economy. what is happening there has wall street's attention because of the precedent it may set for other struggling nations. also, russian business has about $19 billion in cyprus. that's according to mootiedy's. wall street happy with the plan in place right now. it's also the last week of the first quarter. check out your investments this morning. if you haven't looked in a while the you'll be pleased. the s&p 500 is up more than 9% over the first three months of 2013. you can see the rally took off from november of last year. 9% will be a solid return for the entire year. but it's happened only in the first three months of this year. the s&p 500 is up 11% over the past year overall. over and over, when is this going to end? that is nearly impossible to preticket. there is one ratio that wall street looks to and it shows that prices are still fairly valued right now, maybe even cheap at least historically speaking. look at this. this is something that measures
♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. bill: so onward we go, huh? two more weeks of lent. martha: two more weeks of lent as we were discussing. have a great day everybody. "happening now" starts right now. jenna: right now we have brand new stories and breaking news. >> the fbi on the scene of the university of central florida after a suspicious death there. plus explosives were found inside a dorm. we're live with breaking details. >>> the gop's bold new plan for the future. what the party needs to connect with voters it finds. >>> china out with a new warning for the united states about plans to beef up our missile defense system. how this could impact growing tensions with north korea. it's all "happening now.". >>> fox news alert on a campus in chaos. police are investigating a apparent suicide find weapons and explosive devices at the university of central florida. that is how we begin this monday. i'm jon scott. jenna: i'm jenna lee. ucf is canceling classes just hours after evacuating a dor
who believe the fed will keep stimulating the economy by leaving near record low interest rates where they are. that's despite a strengthening u.s. economy and rising home prices. new this morning, the congress department announced home starts were up in february. construction rose at its second fastest pace in four and a half years and there is a positive sign for future construction as building permit requests jumped more than 4.5%. that's the most since june of 2008. >>> developing news. we're finding out more about last night's explosion in nevada that killed seven marines. ktvu's pam cook is in our newsroom to tell us exactly what happened. >> reporter: we're still trying to figure out exactly what happened but the pentagon has confirmed that at least seven marines were killed, seven others injured during a training exercise last night. it happened at the hawthorne army depot in nevada, not far from the california boder. 145 miles southeast of -- border, 145 miles southeast of re knee. it's used to -- reno. it's used to train forces. we have new video of some of the injured marin
's the view of economists who believe the fed will keep stimulating the economy by leaving near record low interest rates where they are. that's despite a strengthening u.s. economy and rising home prices. new this morning, the congress department announced home starts were up in february. construction rose at its second fastest pace in four and a half years and there is a positive sign for future construction as building permit requests jumped more than 4.5%. that's the most since june of 2008. >>> developing news. we're finding out more about last night's explosion in nevada that killed seven marines. ktvu's pam cook is in our newsroom to tell us exactly what happened. >> reporter: we're still trying to figure out exactly what happened but the pentagon has confirmed that at least seven marines were killed, seven others injured during a training exercise last night. it happened at the hawthorne army depot in nevada, not far from the california boder. 145 miles southeast of -- border, 145 miles southeast of re knee. it's used to -- reno. it's used to t
the size of the economy of cyprus. >> bret: russians have $30 billion. >> right. a quarter of it are russians. they say we will tax people who live here but have money deposited here, stashed here to protect it from russia and they see it as an easy out. easy way to get money to satisfy the imf. in response to the imf making an effort to bail them out. that is why he said this is the best solution for us. we saw individuals on tape saying gosh, you know, violation of my property rights, et cetera. those are small time players in the large game. >> bret: but still getting money out of their account. >> they are. >> there is discussion of shifting that to the wealthier. depositors, in cyprus. this is all about russia. german secret service did a study not long ago that looked at the kind of deposits that were made in the cypriate banks from the russians in particular and concluded a lot of it was dirty money. germans don't want their taxpayers to be funding risky bets from russian alagarks. with an election in germany they don't want to answer to the taxpayers for this. steve
high yesterday. so at least one aspect of the economy booming. i wish that was felt throughout and i wish the companies would use all of that money they are making and profits that are piling up to hire more people. that's what has got to happen for the economy to really boom again. cvs a major drug chain in maybe one-half of the country, but they are big, and they are telling employers, you have to see how you are doing at least once a year. we'll pay for it. and that information goes to our insurance company. and if you refuse to let us know your weight and body fat, peter what was the world think of this. >> on twitter jaws says i'm a black woman, 5'4", 165, according to those charts i'm obese. ruth says if a company can enact health poll says what is to stop them from enacting other policies that impose on private freedoms. and then i am opposed to this. >> bill: well, then get the help you need. there are programs that can help people. but you got to admit you got the problem first, right? >> exactly. >> bill: but again cvs is not the only company doing this. i
policies every single day. >> reporter: cruz tells cnn the law will put the economy in critical condition. >> the economy is not growing and implementing obama care now raises a very real possibility we will push this nation into a recession. i'm trying to make the case -- >> reporter: you are saying the president's health care law will cause recession. it could very well. we've had more than 35 separate votes in the congress about that and we've always upheld the affordable care act. >> reporter: democrats argue republicans should just stop. noting the law has not only survived a challenge to the supreme court but also former presidential candidate mitt romney. >> i will repeal obama care. and i'll stop it in its tracks on day one. >> reporter: the gop budget that passed the republican controlled house also includes a repeal of obama care. congresswoman michele bachmann warned the health care law is a killer. >> let's repeal this failure before it literally kills women, kills children, kills senior citizens. let's not do that. >> but it seems it is the law that can't be killed almost lik
of having done that on our economy and on our standing in the globe? >> i think any way you cut it, the decision to go to war in iraq was a disaster and took our eye off afghanistan and al qaeda. and the human toll was enormous. 4,500 u.s. service members died. 100,000 at least iraqi civilians were killed. the cost estimate is between $1 to $3 trillion depending on what study you look at. it was an enormously costly mistake for our country. i think that the american people lost a lot of faith in their leadership to tell them the truth. to make decisions about war and peace based on facts and not misrepresentations of intelligence. and it hurt our standing around the globe. any way you cut it, this decision was a disaster. >> you work inside the white house. do you think they knew that they didn't have wmd? what do you think is the real reason why we went into iraq? >> that's a great question. something struck me having been in that building is how difficult these choices. are i remember hearing a very senior member of the intelligence committee say the circumstantial case for wmd i
't work, which is why our budget focuses on accelerating the economy and putting people back to work right now, for example getting rid of the sequester. so i guess the bottom line, soledad, it's good they're recognizing they've got a problem. but as far as i can tell they misdiagnosed. >> you say with the exception of immigration, and immigration is a big exception. you can see paul rand talking about a pathway to some kind of citizenship. in the tea party. that's i think a little bit of a surprise for some people. do you worry as a democrat that with republicans, i think, correctly analyzing the issue, and the problem they have with the fastest growing demographic in this country that that's going to be a real challenge to democrats? >> look, i'm glad that our republican colleagues are finally on board with immigration reform. we've gone at a very short period of time -- >> right but that's not my question. my question is do you worry that that's going to be a, a part of getting them to capture the hearts and minds of -- >> no, i don't worry -- >> -- idea as really republicans if there w
in local economy. it is a big thing. what is santa clara prepared to do? the nfl wants them to wait parking fees. something as simple as $5. they did not want to pay for that. >> the big thing is they want to waive the hotel taxes that could mean millions of dollars. >> off what could help santa clara, san francisco is the fact that miami the other city competing for 2016 has told the nfl will not waive the hotel taxes. santa clara will decide if that will happen. >> we will look at that and perhaps at that time they will say the bay area is a much better deal and miami. >> will have to wait and see. do we have any idea when they make the decision. >> the owners have to get together and vote? >> may 22nd there will make the decision. they have to give the host city several years to prepare to get the infrastructure in place. they have to build facilities if necessary to host insuperable. >> if i just left norland it is huge. you need all kinds of buildings conference rooms and all these things to host the nfl media as well as the activity for the fans. >> we shall see will. thank you for th
and portugal. the economies there are slowing. germany the fifth biggest and great britain at number 8 and italy at number 10, all shrinking in the last quarter. the entire eurozone is losing huge numbers of jobs. a record 19 million people in the eurozone are now unemployed. tough times. bill: will be that way for years. rocket fire now in israel. police are saying hamas militants in gaza fired two rockets into that country slamming a border town. as president obama meets with palestinian leaders today in the west bank. conor powell is live in the town of sirot, israel, southern part of the country where police say one of those rockets landed. conor. hello. >> reporter: well, bill, israeli officials actually upped the number to four rockets that have been fired from gaza into southern israel earlier today. while much of the physical damage is fairly minor, bill, it was damage to a patio. there is the emotional damage. this is the second time this house here in sderot has been damaged in the last four or five months. there is the symbolic damage. fragile ceasefire agreed to in thanksgi
of the reasons is because cyprus is a tiny economy, but this would be the fourth european bailout. the fact that at the 11th hour it looks like disagreed to, it takes away an uncertainty for the market and the path of least resistance returns. and what is that path? higher. this has been been incredible year for stocks. anybody with a stock market investment has seen fantastic rushes. the s&p 500 hasn't hit a record high, a new record high yet, but it's very close now. could happen in the next couple of days. that's what the s&p looks like over the past 12 months. the s&p over the past year is up almost 12%. just this year so far, up 9%. that's the kind of return if you had a return like that, it would be the envy of all of your friends. and for anybody who is just a plain vanilla stock market investor, they've had a good run. looks like banks will probably lead higher. watch shares of blackberry. lower pre-market. >> christine romans, thanks so much. >>> ford in and advertising firm are apologizing for a recent ad that used questionable judgment. it's a cartoon showing three scantily clad
.s. not charged at this point. now to the story threatening the global economy and affecting stocks here at home. outrage is growing in the small nation of cyprus. the government would seize 10% of the people's bank accounts for the bailout. banks are shut down to prevent people from withdraws their savings. >>> here at home, a computer glitch set off a panic for chase customers. when they checked the balances in their accounts, they saw this. the bank says it was there error. the problem is resolved. >> good news. i thought it was just me. >>> now to winter's blast. snow and ice hitting so much of the country. with an update of sorts, sam champion, the man we're blaming this morning. >> let's show you how much the entire eastern coast of the country, enveloped in the country. up to 10 inches of snow up to 2 feet in the mountains of new england. more than 360 storm reports in the south. most of them big, big hailstones and powerful winds. the pictures out of mississippi. the last few places to pick up snow this morning. from northern new york state to burlington, maine. the entire state of massa
. it is isolated, its economy is in dire straits, its leadership is divided, and its position in the region and the world has only grown weaker. i do believe that all of us have an interest in resolving this issue peacefully. strong and principled diplomacy
, defending being a rich person, which is a shame in a free- market economy. i am a miami dolphins and. -- i am a miami dolphins fan. they are great at playing until they lose the game. after had the lead until the first debate. you cannot fight by the market of queens very rules in a street fight. lesmarquess of queensberry ru in a street fight. only 51% of one-third of the eligible electorate, that is not much of a mandate. we elected the same republican majority in the house with the same speaker of the house, and through the incompetence of some senatorial campaigns, which elected the same majority leader in harry reid. three things. e need to retake education, where they transform education into social engineering and revisit history and revise it. popular culture. they have to demand immediate reform. bold.vatives need to be they have a better argument and a powerful ally, the truth. and subscribeth to "investors business daily." business daily." >> awesome. overve some time to mull what conservatives should do next, and i was struck in your comments about the romney campaign. i rememb
to listen to the message you have about the economy, about health care, about education. because they're so turned off by the rhetoric about illegal immigration. and that i think is what ari and the republican party is talking about now. >> so john berman has covered politics for a gazillion years. richard, you are my nonpolitico. are you moved? is there a sense of a relaunch? >> i'm the type of person that i'm to be persuaded, right some but to me, i know especially this 18 to 29 group, i just feel like it seems like marketing. and i hear the word brand and to me that makes it seem that it's not authentic. so i think social issues, but this idea of the package and -- it just seems like a branding and a marketing thing and i think a lot of young people are pretty wise to that sort of approach. >> so let's go right back then to jake. when you look at the cpac, right, and the straw poll that came out of that, you had rand paul winning with 25%, right behind was marco rubio, something like 23%. and you had contra ticker to me contradictory messages. again, polar opposites on the state of the r
economy, they'll find a war to start or start one of their own, and we'll never get those live or money back." and from michael, "hopefully we learn to keep our noses out of other country's business, unless they threaten to attack or do attack the united states." please, keep the conversation going. we have great response to this question and it's so important, so facebook.com/carolcnn or tweet me @carolcnn. the next hour of "cnn newsroom" after a quick break. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. awarded five-stars from smartmoney magazine. music ... music ... music... >>> happening now in the newsroom, sex, lies, and videotape. breaking overnight, new details about senator robert menendez and claims he paid for hookers in t
of middle class cayennes and americans who continue to struggle in the obama economy. >> reporter: and house budget chair paul ryan a few minutes ago called it a good week for house republicans, because he says they are presenting the country a budget that balances in a responsible way. jon? jon: seems like a lot of finger pointing still underway on capitol hill. mike emanuel. >> reporter: i guess. jon: thanks. jenna: a key vote is set to take place on a plan that sees up to 10 percent of some bank goes -- deposits in cypress. it's raising a whole lot of questions worldwide because of the precedent it might set. greg talcott is live in london so, greg, how do things stand now in cyprus? >> reporter: jenna, we are less than an hour to the start of a debate on that plan. reports are that plan has been modified to make it a bit easier to take. the reports again say that there will be no tax or levy imposed on depositors around $30,000 or so but anywhere from 7-10% on all deposits after that. some atms are working on the island nation of cyprus, the banks on that island remain closed. there is t
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